APAC Electric Charging Station Market Analysis | CMI

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APAC ELECTRIC CHARGING STATION MARKET ANALYSIS

• APAC Electric Charging Station Market, by
  Charging Station Type (AC Charging, DC Charging,
  and Wireless Charging), by Technology Type
  (Level 1, Level 2, and Level 3 ), by End User
  (Private and Public), and by Country (China,
  Japan, ASEAN, Australia, South Korea, and Rest of
  Asia Pacific) - Size, Share, Outlook, and
  Opportunity Analysis, 2018 2026
• An electric vehicle charging station provides
  electric energy for the recharging of electric
  vehicles, including electric cars, neighborhood
  electric vehicles, and plug-in hybrids. It is
  also called as EV charging station, electric
  recharging point, electronic charging station
  (ECS), and electric vehicle supply equipment
  (EVSE).

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• APAC Electric Charging Station Market is expected
  to witness significant growth during the forecast
  period (20182026). This is majorly attributed to
  rising demand for electric vehicles. The usage of
  electric vehicle is beneficial to environment and
  health, as electric vehicles do not pollute the
  environment. Furthermore, these charging stations
  are more economical, as they save costs of fuel.
  Once the electric supply is setup, it can be
  utilized for long period of time.

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Figure 1. APAC Electric Charging Station Market
Share (), by Region (2017 2026)
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Market Opportunities

• Increasing demand for electric vehicles is
  expected to aid in growth of the APAC electric
  charging station market
• Increasing air pollution is one of the hazardous
  problems faced by Asia Pacific region, wherein
  vehicles are a major factor contributing to air
  pollution. Replacing conventional fuel-based
  vehicles with new generation electric vehicle is
  an important step towards air pollution control,
  as electric vehicles does not emit any polluting
  gases. Increasing number of electric vehicles
  results in rising demand for electric power
  stations.

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• Considering the environmental and economic
  benefits of electric vehicle and charging
  stations, governments are introducing new
  policies to boost the market growth. The
  Government of India introduced schemes such as
  Faster Adoption Manufacturing of Hybrid and
  Electric Vehicles (FAME) in 2015 and second phase
  FEMA II in 2017 to support growth of the electric
  vehicle market.
• As per Coherent Market Insights analysis,
  electric charging station market is expected to
  grow at a rapid pace over the forecast period.
  This growth is attributed to increasing need for
  vehicles run using renewable energy, which is
  expected to aid in growth of the APAC electric
  charging station market.

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Figure 2. APAC Electric Charging Station Market
Share (), By Technology Type (2017 2026)

• Level 2 charging stations is more popular choice
  among consumers

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Market Trends and Drivers

• Considering the technology, the market is divided
  into level 1, level 2, and level 3. Among these,
  the application of level 2 charging stations has
  the highest usage rate in the past few years.
  These stations are efficient than level 1 and
  more economical than level 3 charging stations.
  Therefore, the demand for level 2 charging
  stations is expected accelerate over the forecast
  period. However, level 3 charging stations are
  becoming popular, as the market gears to embrace
  technological advancements in the future.
• China is expected to account for the largest
  market share in the APAC electric charging
  station market, while India is expected to
  witness fastest growth over the forecast period.
  The presence of large number of electric vehicles
  in China and increasing need for eco-friendly
  transport medium are some of the key factors
  driving the market growth.
• In India, the highest growth is attributed to
  various factors such as rapid acceptance of
  electric vehicles, increasing pollution control
  policies, and heavy investment by governments and
  private investors.

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Market Restraints

• Lack of a sustainable business and financing
  model, and lack of infrastructure are major
  restraining factors affecting market growth
• Lack of good sustainable business and financial
  model is a major drawback affecting growth of the
  APAC electric charging station market. Users are
  cautious of using electric vehicles because of
  the limited range they offer. Complete charging
  of an electric vehicle anywhere takes from 15
  minutes to several hours, hence public charging
  station needs other facilities and infrastructure
  to keep the customers busy.
• Lack of infrastructure is also a restraining
  factor affecting the market growth. Charging
  stations must be provided at all the public
  platforms such as bus stations, airports, parking
  areas, hospitals, universities, parks, and other
  places.

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Key Players

• Some of the key players operating in the APAC
  electric charging station market include
  PluginIndia.com, Greenlots, Mitsubishi Motors
  Corporation, ChargePoint, Inc., NARI Technology
  Co., Ltd, Blink Charging Co, Toshiba Corporation,
  Magenta Power, Star Charge, and Efacec among
  others.

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  /market-insight/apac-electric-charging-station-mar
  ket-2473

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